John Cowan, executive chairman at SBG, said: “Our business has made great strides in recent years. It is now time to build on our strong foundations and invest in the next generation of services for our members and clients.

“This will help to ensure their continued success, along with profitable and sustainable growth for our group.

“He will help us to write the next chapter in the future success of our business, by ensuring our market-leading brands deliver even greater value to advisers and their customers in these changing times.”

In South Africa he worked for The Unlimited Insurance, Nedbank Corporate Division and Harcourts International. Schultheiss also has experience consulting in organisations around the world, including HSBC, Westpac, Lloyds TSB, Bank of Beroda, Mashreq Bank and Liberty Life.

Schultheiss added: “SBG is a strong business with excellent people, and I have been impressed by the determination to move the business forward on to the next level.

“The group is investing in its brands to help ambitious advisory firms to grow, whilst continuing to ensure they stay safe by carefully managing their risks.

“We will be successful by embracing the opportunities being created in the new digital world, and never losing sight of our profession’s entrepreneurial spirit and the core purpose we all share: to serve our customers well and deliver the right outcomes, so that they keep coming back.”